Category Archives: Monthly update

Monthly Update – 08-2019 (August)

Ahhh…Portugal in August!

What you think it will be:

Empty Beach

What it actually is:

Crowded Beach

Just kidding.There are still a lot of secret and nice spots around. You just need some research and how to avoid the turist mob.

In August, Lisbon is pretty much awesome. Literally the city goes into ghost town mode. Every Lisboeta (Word for people from Lisbon) goes to the Algarve or abroad which means less traffic to work, less people on queues, generally less people. This is a huge bonus for me as my patience for masses of people dimishes as my age increases. Go figure, right?

We just came back from our honeymoon so this was a light month in terms of spending. Hopefuly this will set the trend for the future!

We also merged several accounts (which can be a pain..) so this process is still ongoing.

I had a few non-programmed health spending taking advantage of an empty Lisbon in August and also less stress at work. This meant body checks, dentist, etc. This is something i would like to pay closer attention in the meantime. Better do it while young!

We also had a wedding in the south side of Rio Tejo which was pretty nice and which obviously meant an expense of around 140€.

We went also a few times for dinner as usual but we are trying to reduce to 1 time per week now. Lets see if we can!

Ah! We did an investment. We found a promotion to buy Zomato Gold which is a discount for restaurants and drinks on which we spent for a whole year 25€. This allows us to get the second most expensive plate for free if the restaurante is on the network. Luckily several restaurants we like or some new are there.

Considering we spend an average of 40€ on a dinner. This means we can lower our eating out to an average of circa 30€. We went out last time to an indian restaurant and saved 12€. 😀

Zomato

In case you want to join. Use my referal code. MIGU3266 . This will give you a 50% discount signing up but also give me 3 months extra. Win-win right? I believe this is only available in Portugal and in essence Zomato e something like TripAdvisor or TimeOut.

Here goes our August monthly update ! We will be focusing on the operational part. Income vs Expenses vs Savings rate.

Income

Salaries: 3 405.96 €

Expenses

Housing

  • Mortgages: 1 046.14 €
  • Insurance, Condominium, etc: 49.74 €
  • Utilities (Water, Lights, Gas, Internet, Phones): 146.10 € (He still had Netflix this month but we will be cancelling). Our energy provider also decided to bill us in the same month for something that would be laying in September (Great GALP..)
  • Other Housing expenses: 37.97€
  • Total Housing: 1 279.95 €

Cars

  • Fuel: 201.81 €
  • Maintenance: 65.41€ (This value is not spent but goes to another account. We do it yearly and this allows us to put is aside already)
  • Insurances: 129.55 € (Same here)
  • Transportation (parking, tolls): 44.05 €
  • Total Cars: 440.82 €

Health & Personal items

  • Consultations & Exams: 339.61 € (This month this value was crazy high..i found out i need to remove a tooth)
  • Hair: 17 €
  • Total Health: 356.61 €

Food

  • Grosseries: 131.96 €
  • Eating-out: 293.15 €
  • Total Food: 425.11

Misc

  • Wedding: 140 €
  • Rest: 91.45 € (Apple Music, Gifts ,etc)
  • Total Misc: 231.45 €

Total Spent: 2 733.94 €
Budget for the Month: 2 638.65 €

Savings Rate

SR = ((Income – Expenses) / Income ) x 100 = ((3 405.96 – 2 733.94) / 3 405.96 ) x 100 = 19.73 % or 672 €

We were a bit over budget for expenses but the value is still too high. This is something we are confident we could decrease to around 1 600 € monthly when we come closer to FI. See here why.

Unfortunetly our rental property still draws us around ~700€ every month (morgage, insurances, energy, gas). This didnt matter when we had it rented out but for the past 5 months it has been sitting around empty. Luckily i’m positive we will sell it very soon.

Fun moments

Last but not least! I had for the first time this year some delicious Caracóis (Snails). They are a delicacy best served with some toasted bread and a cold beer. Ahhh.. and this is all you could ask for !

Caracois
Come here snails!
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